Linan Green Energy Environmental Power Co., Ltd. announced that it will receive CNY 10,000,000 in its equity round of funding on August 8, 2014. The transaction will include participation from existing investors, Hangzhou Boiler Group Co., Ltd. for 5,100,000 and Hu Bowei for CNY 4,900,000. Hangzhou Boiler Group Co., Ltd. and Hu Bowei will continue to holds 51% and 49% stake in the company upon closing.

The registered capital of the company will increase from CNY 30,000,000 to CNY 40,000,000 upon closing. The transaction will take place in tranches. The first tranche will be for not less than 30% of the issuance and remaining amount will be received before June 30, 2015.

The transaction has been approved at 3rd meeting of 3rd directorate of Hangzhou Boiler Group Co., Ltd. The company reported total assets of CNY 106,593,200, net assets of CNY 16,643,500, and net loss of CNY 4,264,800 for the year ending December 31, 2013.